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Advantages of Forming a Company in Hong Kong

As a worldwide metropolis with abundant information, starting a company in Hong Kong gives a lot of access to a customer market of millions of people in southern China alone. With sound infrastructure and total legal system of its own, it creates an advantaged economic environment for many entrepreneurs and traders. Thus, Hong Kong is popular with international entrepreneurs looking to enter the markets in China, and also many people set up their businesses here for different goals, which enhance not just the business image only, but also the capability to compete globally. The following information can allow you to decide whether forming a company in Hong Kong is the ideal strategy whereby to achieve this.

There are lots of factors or reasons that can lead to the achievement of a company. Hong Kong is thought to be among the greatest cities to set up and operate a company since it scores on items that matter to companies. Below are some of the key advantages of preparing a company in Hong Kong.

It is a worldwide center of information exchange and transportation hub. A focus of marine activities in southern China and is among the vital ports of the world concerning tonnage of shipping with its facilities, freight handled and the number of passengers carried.

It provides a vibrant economy driven by the policies of free trade, free markets, and free business for everyone. It has no limitation on inward, and outward investment, no foreign exchange curbs and no foreign ownership constraints. It is well situated nearby China. Air, rail, sea and road connections are efficient and modern and give easy access to China’s booming southern states for several overseas entrepreneurs. There is reduced tax rate and tax exempt for income is not incurred in Hong Kong.

With sound infrastructure, political and secure social surroundings, most companies decide to establish operations in Hong Kong because it considered being politically stable and with free market principles.

Enjoy the convenience of a worldwide banking system. Many banks from of 32 foreign countries are there. The Hong Kong banking and financial services is governed by the Hong Kong Monetary Authority (HKMA). The characteristics and advantages of utilizing Hong Kong for personal banks, bank account, enterprises and overseas asset protection are all available.

The procedure for forming a company in Hong Kong is relatively straightforward. You require a minimum of one firm director along with a resident business secretary. You will then be required to verify the company name and corporate structure. There will be a minimum issued capital demand for HKD 10,000, and paid-up funding requirement is one dollar. There is almost no restriction in the field of business scope once you set up a Hong Kong corporation. Operational requirements such as opening up a Hong Kong corporate bank account and establishing an office will be needed. A virtual office is also a choice.

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